Fly Ash Market Market is Expected to Grow at the CAGR of 7.3% During 2015-2022: Credence Research

According to a new market report published by Credence Research, “Fly Ash Market – Growth, Share, Opportunities, Competitive Analysis, and Forecast 2015 – 2022,” the fly ash market was valued at US$ 39.54 Bn in 2015, and is expected to reach US$ 64.76 Bn by 2022, expanding at a CAGR of 7.3% from 2016 to 2022.

Pozzolan is the name coined after the small Italian town of Pozzuoli where hydraulic cement was produced over 2000 years ago. Pozzolans are nothing but siliceous or alumino materials which posses the ability of forming cementious compounds. Fly ash is a Pozzolan which is in the form of fine powder, is the most commonly used material by the construction industry. Therefore, fly ash serves almost all the building and construction applications. Hence, growing constructional activities have created strong demand for fly ash from the building and construction industries on a global scale.

Growing urbanization is one among the major factor driving the growth of global fly ash market. The need for luxury and rising disposable income of people has led to increased demand for lavish houses and accommodations. In addition, the combination of technology and development has led to strong demand for fly ash in the market due to its properties such as strength, long term durability and improved quality of finished product. Moreover, the increased use of environmental friendly products has also boosted market for fly ash as it is proven to be green building material. These factors have collectively led to strong demand for fly ash for constructional activities globally. Apart from fly ash being renowned for its strength properties, it is also used as a soil stabilizer in the agriculture sector. It is used in the production of decorative glass and other applications. Therefore, fly ash has created high opportunities for growth in the market.

Competitive Insights:

Portland cement application accounted for the larger share of global fly ash market in 2015. Portland cement when mixed with water forms insoluble cementious compounds. On addition of fly ash, additional cementious compounds are produced which provide a number of benefits to the final product. Therefore, Portland cement is expected to be the largest application segment of fly ash market and is projected to retain its position during the forecast period. Road constructions and fire bricks are expected to follow portland cement in terms of growth as increased use of fly ash is reported in the market. Agriculture accounted for more than 14% of the global fly ash market and is expected to experience steady growth in the near future due to the substitutes available for soil stabilization. Decorative glass and other applications are also anticipated to demonstrate market growth for fly ash during the forecast period from 2016 to 2022.

Key players dominate the global fly ash market making the entry of new players difficult. These companies have already established its position in the market because of high demand for fly ash from various constructional industries worldwide. Hence, small and new players have to struggle to establish itself in this competitive market. Major players are focused on improving their market strategies and adopting new technologies for improving their product portfolio. Therefore, high competition is observed between the fly ash producers in the market to gain a strong foothold by competing with the major players globally.

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